Quality of Life in 07106>Question Details

Shonda, Other/Just Looking in Newark, NJ

i live in nj my current landlords are trying to sell the 2 family home. we both moved in in nov and both

Asked by Shonda, Newark, NJ Wed Feb 6, 2008

have section 8. how does this effect our lease even though the current landlords says that we won't have to move i don't wnt to be given a months notice by the new landlord what are my rights

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4
Shonda,
Your current lease must be honored by the new owner; however, if that buyer plans to live in it him/herself when your lease expires, he/she does not have to offer you a new lease. If they continue to keep it as an investment property, they must offer you a renewal based on market values. If you would like a copy of the NJ Landlord/Tenant Law Handbook, email me through Trulia or my website and I'll get it out to you.
Web Reference: http://www.dianeglander.com
1 vote Thank Flag Link Mon Mar 3, 2008
Yes, I agree with Jean, the lease you signed wil stay in effect no matter who buys the home. You will have nothing to worry about however you will need to know the new landlords information and make sure that your current landlord hands over your security deposit (which in most cases will be handled during the contract period).
Web Reference: http://www.agentjustin.com
0 votes Thank Flag Link Wed Feb 6, 2008
The terms of the lease would have to be honored. The new buyer would just become your landlord and the lease would stay in effect.
0 votes Thank Flag Link Wed Feb 6, 2008
Have an attorney review your lease. Some leases that I have seen, have a specific line that states you must show the property to any potential buyers of the property (with due notice) But your current lease should be binding to the property.

Again, have a real estate attorney look at your lease for you to find out what your obligations and the landlords obligations are.
0 votes Thank Flag Link Wed Feb 6, 2008
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